Cargill has been streamlining its business to focus on higher-margin operations such as food ingredients and the fish feeding business. Global commodities trader Cargill Inc. has agreed to sell its…

Cargill has been streamlining its business to focus on higher-margin operations such as food ingredients and the fish feeding business.

Global commodities trader Cargill Inc. has agreed to sell its U.S. metals business to Japan’s Metal One Corp, its latest move to boost its focus on higher-margin food and agricultural businesses. For Metal One, headquartered in Tokyo, the move expands its North American steel footprint. Metal One, owned by Japan’s Mitsubishi Corp and Sojitz Corp, was created in 2003 through the merger of their steel trading and distribution businesses.

Privately held Cargill has been streamlining its business to focus on higher-margin operations such as food ingredients and the fish feeding business in a bid to bolster earnings and capitalize on consumer trends.

While no longer owning steel processing centers, Cargill will continue to be active in global ferrous markets, offering tailored physical supply and financial solutions in iron ore and steel through our business in the Asia Pacific region.